South African tycoon to spend $402M turning 600-hectare farm into F1 circuit by 2031

A South African consortium led by former Sibanye-Stillwater executive chairman Neal Froneman is exploring a $402 million project to turn a 600-hectare farmland into a Formula 1 circuit in order to bring racing back to the country by 2031, as per a report by Business Tech.Blue Mountain Racing has secured about 600 hectares in Swartland, near Cape Town for a proposed Formula One standard Circuit and wider hospitality, entertainment and property development. The proposal remains at the pre-feasibility stage and has not yet secured a Formula One race, but if successful it would mark South Africa’s return to the championship 38 years after its last Grand Prix at Kyalami in 1993.From mining to motorsportFroneman is best known for his career in South Africa’s mining industry, having led Aflease Gold, which became Gold One, and helped create Uranium One from Aflease’s uranium assets before becoming a prominent gold and platinum executive at Sibanye-Stillwater.But motorsport is also familiar territory for Froneman, a former racing driver, although he said the proposed development is a commercial venture. “I’ve always had a little bit of racing in me, but this is far more about a commercial ...